While MACD and RSI are bullish, the STOCH RSI shows we have more room to go down. That said, this is a short-term play for me. Trying to catch a bounce and then exit due to market conditions. Ideally I would like to catch this at the bottom with better momentum.
RISKS: Low Volume / Momentum / STOCH RSI / Market Conditions has everyone on edge about another drop in BTC/USD, and rightfully so.
*NOTE* I am a relative n00b to TA, do NOT take this as professional advise. If any of you have any notes I would be more than happy to see them expressed, even if they are negative. All feedback helps :-)
Well, got something out of that! But I'd say this trade is not worth entering into anymore, since that big sell volume candle; unless we also get some significant buy volume. Happy rebound trading!